Discussion About Single & Hdb Flat Ownership + Hdb Loan (Compiled)

[sayfirst]

Seedly has posted an article on the upcoming Sale of Balance Flats offered by HDB next month. Worth taking a look.

[Guest guest]

44 minutes ago, sayfirst said:

Seedly has posted an article on the upcoming Sale of Balance Flats offered by HDB next month. Worth taking a look.

Chances to get a flat in SBF is quite slim.

[thickhead79]

3 hours ago, kidster said:

Are singles above 35 allowed to apply for 3room BTO under Sales of Balance? Or the same rule of 2 room flexi only still applies?

single only resale allow, BTO only 2 room allow

 

rest no 

[thickhead79]

A FIVE-ROOM Design, Build and Sell Scheme (DBSS) public housing flat at 139A Lorong 1 Toa Payoh was transacted for S$1,568,888 in January, breaking the record for the most expensive resale flat sold in Singapore.
The unit is located at levels 40 to 42, said Lee Sze Teck, Huttons Asia’s senior director for data analytics.

[Guest guest]

15 minutes ago, thickhead79 said:

A FIVE-ROOM Design, Build and Sell Scheme (DBSS) public housing flat at 139A Lorong 1 Toa Payoh was transacted for S$1,568,888 in January, breaking the record for the most expensive resale flat sold in Singapore.
The unit is located at levels 40 to 42, said Lee Sze Teck, Huttons Asia’s senior director for data analytics.

Resale HDB can fetch 1.5m! Getting more and more ridiculous.

[Guest Inflated]

Mortgage rate is high. Best is to take least amount of loan or shorten your repayment period.  Next consider the amount of cash to set aside for renovation.  Think carefully.  If no confident, then apply 2 room bTO more affordable. 

[thickhead79]

23 hours ago, Guest guest said:

Resale HDB can fetch 1.5m! Getting more and more ridiculous.

it jumbo flat and high floor

 

willing buyer

[wdlslion]

Anyone know if HDB has a formula that will assess the income level of applicants and give priority to those that earn less than the median average ? Or first timer applicants are treated the same regardless of income level ?  Given that the application rate for 2-room HDB in 2023 BTO exercise is at astonishing high level of 5.8 to almost 15.8 for first timer single.. 

[sayfirst]

1 hour ago, wdlslion said:

Anyone know if HDB has a formula that will assess the income level of applicants and give priority to those that earn less than the median average ? Or first timer applicants are treated the same regardless of income level ?  Given that the application rate for 2-room HDB in 2023 BTO exercise is at astonishing high level of 5.8 to almost 15.8 for first timer single.. 

 

The computerised ballot randomly shortlists applicants and the results solely depend on luck. Every computer ballot is also subjected to rigorous audits before and after the shortlisting process by both internal and external auditors.
 

I have heard of applicants who got a flat on their 1st try and I also heard of an applicant who got their flat on the 11th attempt. Unfortunately because there is a smaller proportion of 2-room flexi flats at each BTO exercise, the demand far exceeds the supply. 

Edited February 1, 2024 by sayfirst
formatting

[thickhead79]

3 hours ago, wdlslion said:

Anyone know if HDB has a formula that will assess the income level of applicants and give priority to those that earn less than the median average ? Or first timer applicants are treated the same regardless of income level ?  Given that the application rate for 2-room HDB in 2023 BTO exercise is at astonishing high level of 5.8 to almost 15.8 for first timer single.. 

not base on income. 
only those single parents got higher chance

 

rest just try luck

 

1st time ballot and got my flat or lower floor

[Guest huh?]

10 hours ago, thickhead79 said:

 

1st time ballot and got my flat or lower floor

U didn't reject?

[Guest guest]

On 1/29/2024 at 10:32 PM, thickhead79 said:

it jumbo flat and high floor

 

willing buyer

Too many willing buyers in the resale HDB market now which let greedy sellers to become even more greedy.

[Guest guest]

On 2/1/2024 at 9:02 PM, sayfirst said:

 

The computerised ballot randomly shortlists applicants and the results solely depend on luck. Every computer ballot is also subjected to rigorous audits before and after the shortlisting process by both internal and external auditors.
 

I have heard of applicants who got a flat on their 1st try and I also heard of an applicant who got their flat on the 11th attempt. Unfortunately because there is a smaller proportion of 2-room flexi flats at each BTO exercise, the demand far exceeds the supply. 

When the 2 rm BTO opens to any locations for single to apply, maybe the supply would be more and chances of getting a 2 rm BTO also higher.

[thickhead79]

On 2/2/2024 at 9:09 AM, Guest huh? said:

U didn't reject?

if u reject mean u got to wait for 1 y to re apply BTO

[Guest guest]

12 hours ago, thickhead79 said:

if u reject mean u got to wait for 1 y to re apply BTO

I thought last time only if you reject two times then they penalty you to wait for 1 year to reapply BTO?

[thickhead79]

22 minutes ago, Guest guest said:

I thought last time only if you reject two times then they penalty you to wait for 1 year to reapply BTO?

new rule apply Aug 2023

SINGAPORE – First-timer applicants who do not select a Build-To-Order (BTO) flat when invited to do so will be considered second-timers in subsequent flat applications for a year.

This takes effect from the August sales exercise.

The tightening of the rule is meant to reduce the number of people who decline to pick a flat and ensure more efficient allocation so that those who need a flat can secure it more quickly, National Development Minister Desmond Lee said on Thursday.

 

 

Mine BTO is 2015 period i guess. i cannot rem but i do not wan to wait 

[Guest Drilla]

Don't be like those people, die die must stay condo. You can always tell. They buy the cheapest unit, usually second floor.

 

No money buy food, clothing, cannot use home toilet. Must use the common WC downstairs.

 

Chinese New Year, no money to buy good food entertain relatives/visitors.

[kidster]

Is it better to have the morning sun facing your bed room or living room?

Is it better to have the evening sun facing your bed room or living room?

[Guest Sun tanning]

39 minutes ago, kidster said:

Is it better to have the morning sun facing your bed room or living room?

Is it better to have the evening sun facing your bed room or living room?

Sunlight is always beneficial. It expands your space, eliminates moisture, energizes the environment, good for indoor gardeners and provides you with the necessary amount of vitamin D. But there's a catch: even indoors, don't forget to wear sunscreen.

[TopChinese]

11 hours ago, kidster said:

Is it better to have the morning sun facing your bed room or living room?

Is it better to have the evening sun facing your bed room or living room?

 

Depends if you like to wake up with the sun in your face. I find morning sun more gentle. 

Afernoon sun here in SG very hot - means more AC bills if you cannot tahan the heat. 

[Nipoet]

On 2/6/2024 at 8:03 PM, kidster said:

Is it better to have the morning sun facing your bed room or living room?

Is it better to have the evening sun facing your bed room or living room?

Morning is the time to wake up and do stuff. Evening is the time to rest and sleep.

I would prefer morning sun facing bed/living room so it can give me an extra kick to get out of bed. xD

[Guest AAA]

Objectively, if we look at the numbers, BTO for singles is really luck.  The very problem with 2 room BTO is that a large number is reserved for seniors is ridiculously high (40% or minimum of 100 according to HDB page).  Go look at the number of 2 room BTO available each exercise.  Even in SBF round, where supply is already extremely low, seniors get priority.  

 

Even if singles can now BTO for all areas coming 2025, as long as the number reserved for seniors does not change, nothing will change.  Go check how many 2 room BTOs are there in these mature estates (plus, prime) and you will know why. 

 

Don't have high hopes on BTO because the odds are really against singles.  At this point of time, singles should just accept that in exchange for a place of your own you have to allow people to cash out their HDB.  In fact, I would argue that condo may be a better choice considering how our property prices will only increase in the long term.  Remember cooling measure does not mean the price will drop - it just means that price increases slower.  

 

 

[Guest Guest]

See graphics in this Straits Times article.

 

$4.5 billion in housing grants given out from 2020 to 2023: HDB

[sayfirst]

HDB has launched its Feb 2024 BTO exercise, with projects in non-mature estates set to be completed from Q4 2027 to Q3 2028. 
 

More than 80% of the flats will have waiting times shorter than 3.5 years. 

[Guest Too young to remember]

14 minutes ago, sayfirst said:

HDB has launched its Feb 2024 BTO exercise, with projects in non-mature estates set to be completed from Q4 2027 to Q3 2028. 
 

More than 80% of the flats will have waiting times shorter than 3.5 years. 

If my memory serves me correctly, when my parents were choosing their first new HDB flat, in the mid 1980s they went from floor to floor and unit to unit to find the best one. They then put a sticker on the door of the unit they liked, claiming that it was already taken, and other viewers would not choose those that had stickers on their doors.  Back then, there was a "mutual" agreement between buyers.   I only hazily recall it. Now BTO you go by your ballot numbers and pick the one which may not be ideal.  Any boomers here can clarify?

[Guest guest]

2 hours ago, Guest Too young to remember said:

If my memory serves me correctly, when my parents were choosing their first new HDB flat, in the mid 1980s they went from floor to floor and unit to unit to find the best one. They then put a sticker on the door of the unit they liked, claiming that it was already taken, and other viewers would not choose those that had stickers on their doors.  Back then, there was a "mutual" agreement between buyers.   I only hazily recall it. Now BTO you go by your ballot numbers and pick the one which may not be ideal.  Any boomers here can clarify?

So in the 80s, HDB was built first and people can go to the blk itself to see before buying? But if need to go from floor to floor and blk to blk to find the best unit, quite a tiring and time-consuming process. Although can see the actual unit facing and surroundings.

[Guest Too young to remember]

46 minutes ago, Guest guest said:

So in the 80s, HDB was built first and people can go to the blk itself to see before buying? But if need to go from floor to floor and blk to blk to find the best unit, quite a tiring and time-consuming process. Although can see the actual unit facing and surroundings.

Exhausted? not the time of our parents.   After years of renting, they were overjoyed to finally own their first HDB. Back then, buyers could select from houses that HDB had completed construction.   With only a map in hand, my parents set off to find the unit of their choosing and I believed the paper-work was also quite simple.   The BTO, in my opinion, is a recent baby born in the 2000s.??

[lonelyglobe]

11 hours ago, Guest guest said:

So in the 80s, HDB was built first and people can go to the blk itself to see before buying? But if need to go from floor to floor and blk to blk to find the best unit, quite a tiring and time-consuming process. Although can see the actual unit facing and surroundings.

Is the same as buying resale flat,  u need to go and view the actual place before buying,  a floor plan is just a floor plan.

 

In the 80s, SG population is only about 2.5m and per household  easily consists of 4-5 pax.  In 2023, our population is 5.9m and we have a lot of single or 2 pax household,  the demand is great. 

[Guest guest]

11 hours ago, lonelyglobe said:

Is the same as buying resale flat,  u need to go and view the actual place before buying,  a floor plan is just a floor plan.

 

In the 80s, SG population is only about 2.5m and per household  easily consists of 4-5 pax.  In 2023, our population is 5.9m and we have a lot of single or 2 pax household,  the demand is great. 

Quite true, buying resale also need to go view many flats before can find the right one. Unless you are so lucky, only see a few flats and able to find the right one. Viewing resale flats also tiring process.

 

Guess even until today, the demand for 2 rm flat from single still very high. It means many singles earning power is not high since still able to buy a new 2 rm flat, as their salary never exceeded $7k ceiling cap.

[dumdidumdum]

with the new BTO rule kicking in in June 2024, can a single BTO at PLH? any income ceiling?

[Guest HDB]

2 hours ago, dumdidumdum said:

with the new BTO rule kicking in in June 2024, can a single BTO at PLH? any income ceiling?

Yes, singles can apply for 2-room Flexi BTO flats in all locations. The income ceiling is $7K.

[Guest Policy loophole.]

I feel for those elderly who wanted to downgrade to short least 2-room BTO.  If they don't have any household income since most elderly are not working, they cannot apply for short least 2-room BTO even if they can afford to pay after downgrading their existing HDB.  

[Guest guest]

11 hours ago, dumdidumdum said:

with the new BTO rule kicking in in June 2024, can a single BTO at PLH? any income ceiling?

Under the new HDB scheme, singles can apply anywhere 2 rm BTO. Can stay in central area and no longer in those far far from town HDB location.

[Guest FEELINGS]

11 hours ago, Guest guest said:

Under the new HDB scheme, singles can apply anywhere 2 rm BTO. Can stay in central area and no longer in those far far from town HDB location.

Prime location will be more expensive than FAR FAR town.  It is a financial trade-off.  Besides, good location may not necessarily come with good design.  Best is to have the "FEEL" and "Connection" with your new home wherever that is. 

[Singroc]

On 2/6/2024 at 8:03 PM, kidster said:

Is it better to have the morning sun facing your bed room or living room?

Is it better to have the evening sun facing your bed room or living room?

Most will having same facing for both living and bedroom. No?

[sayfirst]

On 2/27/2024 at 9:50 AM, dumdidumdum said:

with the new BTO rule kicking in in June 2024, can a single BTO at PLH? any income ceiling?

 

The reclassification of BTO flats into Standard / Plus / Prime categories will start from the Oct 2024 sales launch.

[kidster]

I'm have books and computers my bedroom room. Over time, I realize books when kept too long will generate paper dust which is not good for respiratory heath. Electronics will emit heat and radiation which is not healthy either.

 

Should I just use my bed for sleeping only?

[Guest guest]

1 hour ago, kidster said:

I'm have books and computers my bedroom room. Over time, I realize books when kept too long will generate paper dust which is not good for respiratory heath. Electronics will emit heat and radiation which is not healthy either.

 

Should I just use my bed for sleeping only?

You should place your books and electronics stuff in your extra room. 

[Guest Single45]

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

 

 

[Guest No Choice]

On 3/17/2024 at 2:31 PM, kidster said:

I'm have books and computers my bedroom room. Over time, I realize books when kept too long will generate paper dust which is not good for respiratory heath. Electronics will emit heat and radiation which is not healthy either.

 

Should I just use my bed for sleeping only?

You got no extra room?  If you live in 2-room BTO,  you may want to consider using your bomb shelter as "extra room" for your library or study room.

[Guest Guess]

3 hours ago, Guest Single45 said:

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

 

 

It's about whether you feel comfortable in that flat and surroundings.

 

How much you are willing to spend on Reno.

 

Eg place can do with partial Reno or need total overhaul.

[Guest Guest]

7 hours ago, Guest Single45 said:

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

If you harp on the old flat lease decay, then should not consider a 1978 flat, no matter how much it cost.

 

Pandan area HDB flat price not very ex, maybe due to this area is near to industrial area and lack of amenity. But if you like the place, you can buy cause you will be the one staying and paying for the house.

[Guest price]

36 minutes ago, Guest Guest said:

If you harp on the old flat lease decay, then should not consider a 1978 flat, no matter how much it cost.

 

Pandan area HDB flat price not very ex, maybe due to this area is near to industrial area and lack of amenity. But if you like the place, you can buy cause you will be the one staying and paying for the house.

 

you harp on the old flat lease decay

[Guest The future]

8 hours ago, Guest Single45 said:

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

 

 

If you were born and bred there, no harm finding a place familiar to you or closer to your love ones like family members, close friends...etc.   I think $465K is a deal for 5A room nowadays.   It is also a long term committment, and your plan ahead of time.  How do you see yourself living them in 5, 10, 15 or 20 years later?  What do you have in mind when given the layout of the flats.  Why do the owner wanted to move?  These are some questions you need to ask.

[thickhead79]

9 hours ago, Guest Single45 said:

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

 

 

cheap

[Guest HDB]

Guest Single45,

 

Fyi, actual transacted prices for the last 12 months for similar HDB units @ Pandan Gardens were $480K-$560K (https://services2.hdb.gov.sg/webapp/BB33RTIS/).

 

Imo, if you're planning to buy a HDB unit for investment, look elsewhere with good location and amenities.

[lonelyglobe]

22 hours ago, Guest Single45 said:

Recently I saw a 5-rm resale flat at pandan gardens selling at only $465000.

 

I haven't decided whether to buy this flat or not? 

 

This flat is a 5A model, about 1227 square feet and built in year 1978. This 5-room flat is in original condition. 

 

Now no MRT nearby. But 4 years later in 2028 got 1 new MRT within 7 minutes of walking distance. 

 

So do you guys think this 1978-built 5-room flat selling at $465000 in pandan gardens is a good investment or a bad investment?? 

 

 

 

So the lease left 53 years, depend on your age,  if u r 35, u won't be able to get a maximum loan amount and there is a good chance that u will outlived the flat. If u r 45, probably better provided u don't need to take a loan.

 

Need to factor in the interest rate,  even if u pay $300 for interest monthly, for 20 years,  that will add up another $72000 meaning your house is 465000 + 72000 = 537000. Alternatively,  u can buy with another single without taking a loan and can rent out a room for extra income. 

 

Another consideration,  after staying for 5 years,  the flat left with 40+ years which is very difficult to sell again. For single,  a 3 room is probably a better bet, buy without a loan or minimum loan and any extra money can be used for investment purpose. 

[thickhead79]

Sengkang HDB flat sold for almost S$1 million, all-time high resale price in area 

The five-room unit, which is located at 216A Compassvale Drive, fetched S$968,000

[Swimfun]

47 minutes ago, thickhead79 said:

Sengkang HDB flat sold for almost S$1 million, all-time high resale price in area 

The five-room unit, which is located at 216A Compassvale Drive, fetched S$968,000

In my opinion, purchasing an HDB at a sky-high price can pose risks. It's essential to consider several factors, such as the remaining lease of the property, your intentions for the purchase, and whether you plan to sell it in the future. Remember, if you're buying at a premium, are you prepared for the possibility of selling at a loss later on (negative sales)?

 

A negative sale happens when your selling price is less than your outstanding mortgage loan and total CPF refund amount.

[steelwings]

On 1/28/2024 at 10:50 PM, thickhead79 said:

single only resale allow, BTO only 2 room allow

 

rest no 

technically speaking this statement is not correct. I m single. my bto is 3rm. ready in another few more years

 

what I m really saying is, even if I m single that doesn't mean that my consideration is limited to only 2 rm bto.

 

so long as you enable your application to meet eligibility conditions, eg. form a family nucleus at point of submission, you can purchase flats larger than 2 rm 

Edited March 21, 2024 by steelwings